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Product Code: CSP-3200916

The Global Polyurethane Foam cell market is projected to grow at the CAGR of 8.4% during the forecasted period of 2016-2022. The market had generated a revenue more than $ 46.05 Billion in 2015 and is anticipated to reach up to $ 74.24 Billion in 2022. Due to increasing End-User Industries in Emerging Nations, Environment Sustainability and Energy Conservation and Versatility and Unique Physical Properties are the major drivers which helps to run the market.

Furniture and Bedding was the primary application segment and had more than 30% of the total volume in 2015. With the increasing population, increasing number of single-parent families, and the growing real estate industry worldwide, the furniture market has been increasing steadily over the last few years.

Flexible polyurethane foams are used for cushioning application in the furniture and bidding industry and is extensively preferred as they provide thin profile cushion and comfort. The growth of revenue in the industry will be driven by the increasing demand for premium and designer furniture. Increasing packaged beverage and food industry in Asia Pacific tied with strong demand for corrugated boxes are anticipated to drive consumption in packaging applications.

On the basis of geography the market of Polyurethane Foam is further segmented as North America, Asia pacific, Europe and rest of the world. Asia Pacific led the global industry and had more than 40% of the global Polyurethane Foam market volume in 2015 with the growth to be driven by the development of transportation and electronics sectors in Taiwan, Korea, India and China. Economic growth in the developing region has allowed greater for sales of vehicles and electronic appliances.

Europe and North America have been usually the dominant consumers of polymers due to relatively stable industrial output. Moreover, strong economic development in developing regions such as China and India has lifted the equilibrium and Asia Pacific is anticipated to emerge as the leading consumer.

Some of the major players of the company are BASF SE, Bayer AG, Chemtura Corporation, Compagnie DE Saint-Gobain S.A., Foamcraft' Inc., Foampartner Group, Huntsman Corporation, Nitto Denko Corporation, Recticel NV /SA, sekisui Chemical Co. Ltd., The DOW Chemical Company, The Woodbridge Group, Tosoh Corporation (Nippon Polyurethane Industry Co.' Ltd.), Trelleborg AB.Acquisition, merger and innovation are the major key strategies which helps to sustain in the market. For example, in November 2014, Bayer set up a new plant with double production capacity for its plastic component in Eastern Germany. The plant operator is a German Japanese joint venture called Hi-Bis. The Bayer Material Sciences hold 10 per cent shares in Hi Bis while the remaining shares are held by Japanese company Mitsui and its Honshu Chemical Industry subsidiary. Similarly, In December, 2014 BASF to acquire Taiwan Sheen Soon that produces TPU adhesives. BASF has entered into a definitive agreement to acquire the business and assets in Taiwan and Mainland China of Taiwan Sheen Soon thus consolidating BASF's competences in this important growth field.